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HomeDirect TaxEmployees’ Welfare Society Can Adjust Member Benefits Before Taxation: ITAT Allows Set-Off...

Employees’ Welfare Society Can Adjust Member Benefits Before Taxation: ITAT Allows Set-Off of Welfare Claims Against Interest Income 

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The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that an employees’ welfare society is entitled to set off payments made to its members—such as death claims, pension, and retirement benefits—against its interest income before determining taxable income.  The bench of Anubhav Sharma (Judicial Member) and Manish Agarwal (Accountant Member) ruled that…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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